St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-01-15
THE STATE OF TRADE.
A Gratifying Scarcity of Sensae
tiOnal Events During the Week.


tiOnal Events During the Week.
New YORK, Jan. 14.-The following Is
K. &. Dun IL Co.'s weekly review of trade:
The peculiar scarcity of fresh and strik-
ing events during the past week is not
bad sign. Production and distribution have
gone on so quietly that the enormous mag
nitude OF transactions is not by all appre.
clated, nor is attention fixed by startling
changes Tor better or worse, but evidence
aDoundS OF the unusual volume of business
Bank exchanges throughout the country
and tariff returns bear testimony as to dis
trlbution, while agricultural and manufac-
turing statistics show that production has
hardly ever been greater West-bound
rail shipments in December were never
eQualled, excepting 1881. The final
crop report of the agricultural bureau.
showing yield last year of 457, 900, 900
bushels of wheat. 1,456. 900, 600 bushels of
corn and 624, 900, 900 bushels of oats. states
that the farmers, while getting more for
their corn and oats than in 1885, averaged
only 6S.7 cents for wheat against I'll cents
LII 1855; but the low price was due to the
enormous surplus caused by speculative
control of markets. Iron production, bv
many deemed the best barometer, was 1874
$50 tons weekly Jan. against 121. SCI Dec.
l.haYlng increased 31.6 per cent. during the
year. In spite of an output exceeding
3.O15,00O tons Ill six months prices have
risen until S21 is demanded for No. an
thraclte, $50 is quoted for steel rails at mills
and Western nail makers on "Wednesday
raised their price from S2.4O to Sc. 60.
Meanwhile the German production of iron
was "a per cent. less in October, 1886. than
in 1885, and for ten months of the year 1917
per cent. less. Coke production is increas-
ing. and new ovens are to he added in the
| Mount Pleasant district, Pa. Grain mar
kets have changed character. Europe
bough heavily for some months, virtually
controlling the market in spite of specula-
tors. Since New Years foreigners are SELL
ing in the belief that prices will get lower.
| and last Tuesday Chicago helped to break
down the prices a cent. But subsequent
recovery prompts the suspicion that large
spectators are buying, and the markets are
now in speculative hands. Corn and oats
closed SHADE lower, oil = cent lower,
cotton Lice lower, pork % cents lower.
and lard sc lower than week ago. The
cattle market is also depressed, and British
prices of American beef are lower. Coffee
floats upward easily at present. having
gained sc for the week; but the specula-
tors have work ahead when supplies come
forward largely, Silver advanced nearly
half penny in London. The dry goods
market is steady as to prices. and fairly ac-
tive for the season. though waiting policy
prevails as to woolens. Money is abundant
and cheap heavy disbursements of corpo.
rate and firm profits being slowly absorbed
by investment Foreign exchange has
risen rapidly toward the point at which gold
may be exported. Bankers began to remark
that part of the amount recently imported
could well be spared. Foreign sales of Sc
curities here appear to have balanced
accounts for the moment, but the
scale does not yet turn so far
that gold goes out. Exports
continue large, though of wheat, small Of
late. In December the value of breadstuffs
exported was S13, 900, 600, against S10,-
600, 600 i'll 1885, and for six months, SIS
200, 600, against $50, 900, 600 in 1855. The
treasury took nearly $4,000. 600 gold. $780,
900 silver and as much of legal tenders
during the past week. But the receipts of
silver at the custom house here have risen
abeve 20 per cent. of all receipts. The
business failures during the past seven
days number for the United States 294, and
for Canada &c. a total of 1923, against 299
last week and 273 the week previous. This
is the largest number reported in any week
since January. 1886, but not larger than
was expected at this season. In the cor
responding week of last year there were
332. The Southern states furnished 107
this week, about double the average from
that quarter.